DEED OF COMPROMISE BETWEEN LEGATEES AND HEIRS

DEED OF COMPROMISE BETWEEN LEGATEES AND HEIRS

THIS DEED of compromise made at………………on this………………day of………………20………between A son of………………resident of……………….and B son of………………resident of(hereinafter collectively called “the heirs”) of the ONE PART and C son of ……………. resident of………………and D son of………………resident of………..(hereinafter collectively called “the legatees”) of the OTHER PART

WHEREAS

 (1) [P1] One E son of………………resident of………………died leaving the properties and assets, more particularly described in the Schedule hereunder written

(2) [P2] The said E has left a will dated………………bequeathing all his properties and assets to the legatees.

(3)[P3] The heirs of said E have disputed the said will on the ground that it is not the last will of the said deceased and that the deceased was not in his sound mental condition on the date of its alleged execution and that the said deceased has left codicils to the said will.

(4)[P4] The legatees do not admit the objections put up by the heirs and they object to the alleged codicils on the grounds that the said alleged codicils are not properly attested and date of one codicil is not certain

(5)[P5] Various disputes and differences have arisen between the legatees and the heirs as to the administration of the estate of the deceased.

(6)[P6] The parties hereto desire that the disputes and differences relating to the distribution or inheritance of the properties and assets left by the said deceased between them should be settled amicably between themselves without resort to litigation.

NOW THIS DEED WITNESSETH THAT IT IS HEREBY AGREED AS FOLLOWS:

(1)[P7] In pursuance of the said agreement and in consideration of the premises, the parties agree that the legatees shall apply for probate of the said will, without prejudice to the rights of the heirs as hereinafter fixed and agreed to by the parties hereto and the heirs will not contest the said will in any court and will not object to the grant of the probate of the will.

(2)[P8] In consideration of the premises, the legatees and each of them agrees that they shall deliver and transfer one-half of the said properties mentioned in the Schedule hereunder written to the legal heirs immediately after the grant of probate of the will and will retain remaining half with them

(3) [P9] The legatees and each of them covenant that they will take immediate and diligent steps to obtain the probate of the will. All expenses of and incidental to the grant of probate of the will, as also of transfer of the shares to the heirs shall come out of the estate of the deceased.

(4)[P10] The heirs and each of them agree that they will not claim any right under the said codicils and the legatees and each of them also agree that they shall not claim any rights under the said will save as hereinbefore provided

IN WITNESS WHEREOF, the parties have set their hands hereunto the day and year first hereinabove written

Schedule

WITNESSES 

            1          Signed and delivered by the within named legal heirs A and B

            2.         Signed and delivered by the within named legatees C and D

            III. FAMILY SETTLEMENTS

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